American Century Companies Inc. reduced its stake in Matador Resources (NYSE:MTDR – Free Report) by 38.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,952 shares of the energy company’s stock after selling 309,224 shares during the period. American Century Companies Inc. owned approximately 0.42% of Matador Resources worth $23,864,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Shaker Investments LLC OH raised its stake in shares of Matador Resources by 1.1% in the fourth quarter. Shaker Investments LLC OH now owns 16,190 shares of the energy company’s stock valued at $927,000 after acquiring an additional 182 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in Matador Resources by 2.9% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,910 shares of the energy company’s stock valued at $396,000 after buying an additional 197 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Matador Resources by 46.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 760 shares of the energy company’s stock valued at $42,000 after buying an additional 242 shares in the last quarter. US Bancorp DE raised its stake in Matador Resources by 2.1% in the first quarter. US Bancorp DE now owns 11,991 shares of the energy company’s stock valued at $635,000 after buying an additional 246 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its stake in Matador Resources by 3.5% in the first quarter. Evergreen Capital Management LLC now owns 8,189 shares of the energy company’s stock valued at $434,000 after buying an additional 276 shares in the last quarter. 87.23% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have weighed in on MTDR shares. Mizuho upgraded Matador Resources from a “neutral” rating to a “buy” rating and raised their price target for the company from $66.00 to $78.00 in a research note on Wednesday, August 16th. StockNews.com initiated coverage on Matador Resources in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. Royal Bank of Canada cut their target price on Matador Resources from $74.00 to $70.00 in a research report on Wednesday, July 12th. KeyCorp lifted their target price on Matador Resources from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Finally, Benchmark reiterated a “buy” rating and set a $71.00 target price on shares of Matador Resources in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.89.
Matador Resources Stock Performance
NYSE MTDR opened at $62.68 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 0.61. Matador Resources has a 52-week low of $42.04 and a 52-week high of $73.78. The business’s 50-day moving average price is $55.54 and its 200 day moving average price is $51.79. The firm has a market cap of $7.47 billion, a P/E ratio of 8.18 and a beta of 3.54.
Matador Resources (NYSE:MTDR – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The energy company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.12). Matador Resources had a return on equity of 27.40% and a net margin of 33.46%. The company had revenue of $638.20 million for the quarter, compared to analysts’ expectations of $636.91 million. During the same period in the prior year, the business earned $3.47 EPS. The business’s quarterly revenue was down 32.4% compared to the same quarter last year. On average, equities research analysts expect that Matador Resources will post 6.36 earnings per share for the current year.
Matador Resources Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, August 10th. Matador Resources’s dividend payout ratio is presently 7.83%.
Matador Resources Profile
Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.
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